Peach Property Group Ag · SIX:PEAN
Peach Property — FY2024 Earnings Presentation
54 slides from Peach Property's earnings presentation, Mar 24, 2025
Slide 1: FY 2024 Results
FY 2024 Results March 2025 ©peach PROPERTY GROUP
Slide 2: Today's Presenter
Today's Presenter Gerald Klinck Chief Executive Officer * CEO of the Peach Pro} April 2024 dition to his role as operty Group, he also takes over the responsibilities of the CFO + He has more than 25 years of experience in the real estate industry ®peach
Slide 3: Our Management
Our Management Stefanie Koch, COO, is welcomed since March, 15 2025 Executive Management 5.) | Gerald Klinck | Stefanie Koch Chief Executive Officer, Chief Operating Officer CFO responsibilities DeutscHe Wonnen’ hp CURE ATG VONOVIA RITTERWALD Board of Directors } Michael Zahn Urs Meister Beat Eric C
Slide 4: Agenda
Agenda 1. Peach at a Glance 2. Operational 3. Financial Performance 4. Update on ESG 5. Guidance 6. Overview of Balance Sheet 7. Appendix
Slide 5: Peach Property at a glance
Peach Property at a glance Affordable German residential properties in selected B-cities Strategic NOM Portfollo, Total Peach Property Group Portfolio trategic —_ soldas of Dec 31, Dec 31, Dec 31, Dec 31, owns 328 poo it 2024 2024 2024 2023 residential units AGGESO ISG GERES Actual Rent €79m € 25m €
Slide 6: Peach Portfolio after Portfolio Transaction
Peach Portfolio after Portfolio Transaction Execution of portfolio strategy, reduction of vacancy rate as well as deleveraging Strategic Non-Strategic Portfolio Share (%) 76% 75% Portfolio Share (%) 24% 25% Units 20 630 16 428 Units 6662 5519 Locations 44 38 Locations 74 68 In-place rent 640€/sqm 64
Slide 7: What happened in 2024
What happened in 2024 Major milestones regarding deleveraging achieved FY 2023 Results New CEO AGM 2024/New BoD Portfolio Transaction EGM for Equity Raise Effective 15 April, 2024, Gerald Klinck became the new CEO of Peach Property Group AG Ad-hoc of upcoming EGM regarding equity raise New five-memb
Slide 8: Timeline 2025
Timeline 2025 Focus on refinancing remaining maturing debt and operational performance January 2025 Vv March 2025 VY 23 May 2025 15 November 2025 € 127m nominal amount €55m AGM Maturity of outstanding Bond repayment (partial) SSD Promissory Bond amount ~€ 85m Current amount € 300m Payback (complete)
Slide 9: Agenda
Agenda 1. Peach at a Glance 2. Operational Performance 3. Financial Performance 4. Update on ESG 5. Guidance 6. Overview of Balance Sheet 7. Appendix
Slide 10: EBITDA bridge 2023 to 2024
EBITDA bridge 2023 to 2024 One-off effect due to increased energy costs in former years In€m BY ‘Adjusted Rental EBITDA income 2023 ®peach a -0.8 | -18 62.2 -5.0 Expenses from — Personnel Other i _ letting of expenses operating ee investments expenses 2024 properties Comments Inflation and increase
Slide 11: Development of Rental Income
Development of Rental Income Sustainable increase of rents supports our operational performance Development of actual rent Rental income in€m 3.7% p. _ in € thousands 2022 2023 = Tecget re income from letting of investment RAGS —— ~ 127.1 118.4 che) Lost income due to vacancies ~14 003 Vacancy rate
Slide 12: Rental potential residential units
Rental potential residential units Actual and Market rents are increasing in parallel Strategic Portfolio Comments Figures in € / sqm * Continuous growth of the actual rent in both portfolio parts 7.38 7.26 7AL 6.01 6.23 6.40 15.7% + Potential for rent upside between actual and market potential rent
Slide 13: Vacancy increase due to last year's renovation plan revision
Vacancy increase due to last year's renovation plan revision Vacancy in strategic portfolio leads to future rent upside; Decrease in 2024 due to divesture Development of vacant residential units and vacancy ratio Strategic 2190 2020 2021 2022 2023 2024 Figures in units 858 -589 Total In letting proc
Slide 14: Development of expenses from letting
Development of expenses from letting Cost reduction by further insourcing of facility management services Expenses from letting of investment properties in € thousands 2022 2023 Expenses from letting of investment properties -23770 — of which ongoing maintenance expenses 714 879 — of which direct ad
Slide 15: Development of Personnel Expenses
Development of Personnel Expenses Salary of ~30 employees included in 2024 will be transferred in 2025 to JV Personnel expenses in €m1 2024 figures in comparison to 2023 and 2022 in € thousands 2022 2023 20241 19.31 Salaries -15 220 -15 190 17.48 17.46 Social insurance cost -2175 4 : Employee benefi
Slide 16: Development of Operational Costs
Development of Operational Costs One-off effects for updated strategic alignment Other operating expenses in €m Other operating expenses mie in € thousands 2022 2023 2024 Fees and legal expenses, third parties -3548 2631 10.06 Fees and legal expenses, related parties -516 8.97 IT expenses -1681 -188
Slide 17: Operational KPIs in 2024
Operational KPIs in 2024 Number of residential units Actual rental income (€m) Target rental income (€m) 2024 21947 Vacancy (residential units) 2, 127.1 Actual rental income per sqm* °° 142.3 Target rental income per sqm 2 Adjusted EBITDA (€m) 2024 ao 62.2 EBITDA margin 2023 8pp } (om) 2.043 units 6
Slide 18: Agenda
Agenda 1. Peach at a Glance 2. Operational Performance 3. Financial Performance 4. Update on ESG 5. Guidance 6. Overview of Balance Sheet 7. Appendix
Slide 19: CAPEX is back on track
€m CAPEX is back on track Spending in 2024 more than twice as high as in 2023 €32.3/sqm € 28.3/sqm € 28.8/sqm € 22.7/sam 70 60 | € 10.8/sqm | CAPEX 2024 Figures in €m 14.50 25.30 = CAPEX Measures = Tenant Improvements 50 40 30 20 10 } 41.60 57.60 19.1 2020 2021 2022 2023 2024 ®peach + €39.8m (o/wapp
Slide 20: Portfolio valuation
Portfolio valuation Devaluation reached bottomline Valuation result 2024 Key valuation indicators 2 ™ Operational progress & discount rate Dec 31,2022 Dec 31, 2023 mlnitial valuation . otal revaluation loss as % of investment properties Total fair market value €2 343m €2 381m Rental yield based on t
Slide 21: Debt structure as of December 31, 2024
Debt structure as of December 31, 2024 Refinancing of Bond in good progress towards a smooth maturity profile Maturity profile! 5 700 € 182m repaid in 600 Bi Q1 2025 = “Y WD & § 500 3 8 127? 2 5 = 400 a 173 8 300 218 3 71% 798 2.33% 90% 200 153 126 3 = = scar 2025 2026 2027 2028 2029 > 2030 Unencumb
Slide 22: Financial KPIs in 2024
Financial KPIs in 2024 Portfolio market value in €m 4 Debt volume in€m FFO I (€m) Debt/EBITDA multiple 2023 1421 22.8 2023 Eon) 21.5x 2024 2024 18.6x Multiple on target rent WACD EPRA NTA (€/share) Loan-to-value 474 20.3 (1) NAV market value of real estate portfolio incl. right-use-of- assets and as
Slide 23: Agenda
Agenda 1. Peach at a Glance 2. Operational Performance 3. Financial Performance 4. Update on ESG 5. Guidance 6. Overview of Balance Sheet 7. Appendix
Slide 24: Continuous and transparent ESG reporting
Continuous and transparent ESG reporting Affordable and sustainable living spaces bility babel Third Sustainability Report in accordance with the Global Reporting Initiative (GRI) standards + Will be published on 20 May, 2025; available on https://www.peachproperty.com/en/news- SuStainability i : :
Slide 25: Peach Property earned CDP B-rating
Peach Property earned CDP B-rating — the highest rating category in CDP SME score in 2024 - SIX ICDP | SPIESG Discloser Se 2024 |
Slide 26: Energy KPIs of Peach Portfolio
Energy KPIs of Peach Portfolio On track towards energy efficient portfolio, subtargets already achieved Distribution of energy efficiency classes Decarbonization path of Peach Portfolio average* Baraline 40 2021 35 7 34 2030 x A 2024 i 29 <3 0) a Achieve climate-neutral portfolio mainly through: $ >
Slide 27: Tenant satisfaction
Tenant satisfaction Decentral organization still achieves high satisfaction levels ” . Tenant inquiries One-touch" rate ‘ = 7 Ss Ny Tenant tickets Tenant tickets received solved 2020 2021 2022 2023 2024 Ata 174 180 171270 consistently Tenant satisfaction high level ae ae Peach Points Incl. externals
Slide 28: Agenda
Agenda 1. 2. Peach at a Glance Operational Performance Financial Performance Update on ESG Guidance Overview of Balance Sheet Appendix
Slide 29: Guidance & mid-term financial targets
Guidance & mid-term financial targets Guidance FY 2025 Midterm targets L-f-l rental growth FFO B >4% €18-20m Key milestones ®peach (1) Subject to final refinancing and sales of non-strategic assets. LTV <45% * Clear focus on refinaning remaining maturing bond * Considering solutions for maturing con
Slide 30: Agenda
Agenda 1. Peach at a Glance 2. Operational Performance 3. Financial Performance 4. Update on ESG 5. Guidance 6. Overview of Balance Sheet 7. Appendix
Slide 31: Consolidated statement of income (I/II)
Consolidated statement of income (I/II) Figures in € thousands 2023 Rental income 120 872 comments Valuation gains from investment properties 11 @ Peninsula development project. As in previous periods no Profit on disposal of investment properties 16 profit margin recorded. Income from development p
Slide 32: Consolidated statement of income (II/II)
Consolidated statement of income (II/II) Figures in € thousands EBIT Financial income _/. Financial expenses EBT ./. Income taxes Results after taxes attributable to Peach Property Group AG equity holders attributable to non-controlling interests Basic earnings per share for loss in € Diluted earnin
Slide 33: Funds from operations (FFO)
Funds from operations (FFO) Figures in € thousands EBIT Depreciation and amortization EBITDA Impairment loss on development properties One-off warranty accrual related to German development projects Valuation result of investment properties Net result on disposal of investment properties Loss on div
Slide 34: Overview per December 2024
Overview per December 2024 in € thousands EBITDA Adjusted EBITDA 59315 66 063i) Interest paid & received -37097 -40 ES) 40 309} Interest paid on hybrid-capital Lease payments “1567 Taxes paid / received -482 FFO| 19 207 Net result from disposal of investment rv properties Loss from divestiture of re
Slide 35: ICR & LTV per 2024
ICR & LTV per 2024 Calculation Interest coverage ratio Interest coverage ratio in € thousands 2022 202 2024) Operating result 43 686 -159 710] ees 155 ie 154 Valuation result and depreciation 14114 224 656) Result of disposals/divestitures O 103 101 314 Non-cash expenses 1339 1014S One-off and extra
Slide 36: Consolidated statement of financial position (I/II)
Consolidated statement of financial position (I/II) Figures in € thousands Cash & Cash equivalents Trade receivables Other receivables Current financial receivables Contract assets Development properties Investment properties held for sale Total current assets Investment properties Advance payments
Slide 37: Consolidated statement of financial position (II/II)
Consolidated statement of financial position (IT/TI) Figures in € thousands Trade payables Other payables and advance payments Current income tax liabilities Current financial liabilities Current provisions Total current liabilities Non-current financial liabilities Non-current provisions Employee b
Slide 38: Equity, share & key figures
Equity, share & key figures Equity ratio (IFRS) in € thousands 31.12.2022 31122023, eee IFRS equity 1107 822 thereof hybrid capital 51556 1107 822 thereof non-controlling interest 40 408 982 227 Equity ratio IFRS 39.6% 876 825 Number of shares 20740 918 NAV IFRS per share 60.17 EPRA NTA per share 64
Slide 39: Appendix
©peach PROPERTY GROUP Appendix
Slide 40: Share data
Share data Significant shareholders! as of Dec 31, 2024 3.00% 749% 8.87% 28.58% 12.27% Ares Management Corporation, through: Peak Investment S.a.r.. = Rainer- Marc Frey, through: H21 Macro Limited = Beat Frischknecht, Switzerland = Franciscus Zweegers, through: Arquus Capital N.V. and LFH Corporatio
Slide 41: Market fundamentals
Market fundamentals Dynamics support Peach Property's future performance Undersupply in the German housing market is expected to persist German inflation reduces while construction price growth slows down 450 mmm Completed new CPI Germany > 400 appartments (000) * 15.0% ’ 150 Government target gy, S
Slide 42: Capital market development
Capital market development Credit ratings (Corporate Rating) Recent capital market transactions Tender Offer on 4.375% Senior Notes due November 2025 successful of an amount of € 127.1 million ba YH eB BB Dec 2024 Ordinary capital increase of € 122 million by issuing 22.7 million new registered shar
Slide 43: Our portfolio strategy
Our portfolio strategy Focus on Strategic Assets to create EBITDA growth (=) Defining the Non-Strategic bucket... Selection Criteria Small assets (<75 residential units) Distance to next Peach Point (>40 km) High vacancy Low rental upside Capex backlog ——___ ee Privatization potential (declaration o
Slide 44: Successful execution of portfolio sale
Successful execution of portfolio sale Opportunistic locations of 5 200 units in line with portfolio strategy Key transaction highlights Transaction KPIs Purchase price Not disclosed GTC Paula S.A.R.L. and LFH Eee Portfolio Acquico SA.R.L. Share Deal Transaction structure (Peach remains 10.1%) Units
Slide 45: Capital Increase successfully implemented
Capital Increase successfully implemented Around 90% of existing shareholders executed their subscription rights; backstops almost not used # traded subscription rights 2 103 920 / © VWAP CHF 3.91 thereof # subscribed shares 22 697 372 (= 99.86 %) thereof # Rump Shares 32 078 (entirely allocated to
Slide 46: Sales in HY 2024
Sales in HY 2024 Selling small-scale assets leads to prices close to fair market value frome . & ™~? SNe a ‘ of a warn, & i) J — J ‘ iy Telgte Hametn d ; solingen oh : f sel ip / a / » {Ges eae 3 Units (residential) Book value In thousands Sales price In thousands € 543 Secured debt €0 In thousands
Slide 47: Portfolio structure as of Dec 31, 2024
Portfolio structure as of Dec 31, 2024 Investment properties € 1 891(97%) BED | vestment properties € 27m (1%) Total portfolio market value Development properties € 34m (2%) s €1952m DPEACh __— Mervaver setrinedey woetPatner AGas oI 30, 2024, rung raheor we sss rempascom 47
Slide 48: Portfolio fully focused on residential space
Portfolio fully focused on residential space Rental income by use category as of Dec 31, 2024 In % of total rental incomebefore collectionloss Breakdown of residential units by federal state as of Dec 31, 2024 In % of total units Parking & other Commercial 3.0% 37% Previous year Previous year 29% 3.
Slide 49: Typical properties in Peach's portfolio
Typical properties in Peach's portfolio Oe ng ee st a iti art a a
Slide 50: Peach Points — our regional tenant shops
Peach Points — our regional tenant shops (\C 12 Peach Points at all major Peach locations CoTSSeUS of direct dialogue with our tenants Dortmund | & Il Munster / Fa8berg Recklinghausen Marl Gelsenkirchen Central Essen Oberhausen Witzenhausen contact f rental and a Within walking distance for Ludwigsh
Slide 51: Development project in CH «Peninsula Wadenswil»
Development project in CH «Peninsula Wadenswil» 57 condominiums in 5 buildings Total sales volume expected CHF 130-140m Construction status as of December 31, 2024 + Sales volume expected CHF 130-140m Stage of completion: 34.1% (Dec 31, 2023: 11.5%). + — Notarized units represent 64.3% of expected s
Slide 52: Peach Property in the German media landscape
Peach Property in the German media landscape Proactive dialog with the media orsen-Zeitung mame, Borer WHO. 7 i :N ZEITUNG HAF’ Wie Gerald Klinck an IMMOBI". IEN ZEITUNG Peach Property sucht der Rettung von Peach Preis fiir Wohnportfolio von Peach den Befreiungsschlag . reis iC einer Kapitalerhéhung
Slide 53: Disclaimer
Disclaimer These materials contain forward-looking statements based on the currently held beliefs and assumptions of the management of Peach Property Group AG (hereinafter also referred to as «PPG» or «Peach Property»), which are expressed in good faith and, in their opinion, reasonable. Forward-loo
Slide 54: Investors, Analysts and Media
Investors, Analysts and Media Gerald Klinck, Chief Executive Officer +41 44 485 50 31 investors@peachproperty.com